Quarters pounded: Beyond Meat is trying everything to reverse a sales slump
Quarters pounded
Beyond Meat just announced that it will be debuting a new burger as part of its Beyond IV product line in the US this spring, adapting its plant-based patties to follow a healthier recipe in the face of lean-looking sales.
A press release touted the new Beyond Burger and Beyond Beef products, which are made with avocado oil and contain less sodium and sat-fats, as the “juiciest” and “meatiest” yet — the company’s recent sales, however, couldn’t be described in the same way. Indeed, year-on-year revenue has slipped in 7 of the last 8 quarters, as appetite for Beyond’s alt offerings (mostly) dries up.
Life of the patty
While meat alternatives were beginning to look like the future in the very recent past — like when Beyond’s stock soared 163% on its IPO in 2019 — some dieticians have been bashing highly-processed plant protein products for their negative health implications of late, pointing to potentially harmful additives, missing nutrients, and generally higher sodium content.
Not helping Beyond's cause is the broad plateau, or even decline, in vegetarian and vegan diets: according to Pew Research, the meatless contingent dropped from 5% of Americans in 2019 to 4% in 2023, and those eschewing all animal products fell from 3% to 1% over the same period.
